Read over the list above which tells you what a Property factor does, then answer these 2 questions:

How many of these tasks apply to your community and which ones are you and your neighbours happy and able to do yourselves?

Can you see yourself doing these jobs long-term?

In our experience,

In small developments with little grass or landscaping, and where everybody knows each other, homeowners can find it relatively easy to arrange maintenance and look after things themselves.

However, where there are around 20 or more homeowners, it’s not always easy collecting money, especially if one household doesn’t want to pay. In this instance, you could ask a property factor to collect and manage monies for specific jobs and outlays while you carry out simple maintenance and cleaning jobs yourself.

Finally, where work is more complex or large scale, as well as organising works and monies, there may be significant health and safety issues to consider. Here, you’d benefit from having a professional property manager oversee planning and works, and look after the financial side. Speak to at least two property managers who come recommended, and ask for a quote.charge for their services, the more responsibilities they have the more they’ll cost. Getting a factor might be worthwhile if dividing repair and maintenance tasks between the owners is awkward, time consuming or stressful. For example, some owners might not live in the building, they could be difficult to get hold of, or too busy or disinterested to arrange maintenance work. The factor will be an expert in running properties and hiring suitable contractors, and they can advise you on repair and maintenance issues.